Exhibit 12.2
HCP
Pro forma ratio of earnings to fixed charges and Pro forma Ratio of earnings to fixed charges and preferred stock dividends
|
| YTD SEP-06 |
| 2005 |
|
Pro forma RATIO OF EARNINGS TO FIXED CHARGES |
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges: |
|
|
|
|
|
Interest Expense and Debt Amortization |
| 309,834 |
| 366,407 |
|
Rental Expense |
| 4,028 |
| 3,528 |
|
Capitalized Interest |
| 1,819 |
| 5,411 |
|
|
|
|
|
|
|
Fixed Charges |
| 315,681 |
| 375,346 |
|
|
| — |
| — |
|
Earnings: |
|
|
|
|
|
Pretax Income from Continuing Operations before minority Interest and Income from Equity investees |
| 67,335 |
| 61,411 |
|
Add Back Fixed Charges |
| 315,681 |
| 375,346 |
|
Add Distributed Income from Equity Investees |
| 7,908 |
| 227 |
|
Add Losses from Equity Investees for which charges |
| — |
| — |
|
arising from guarantees are included in fixed charges |
| (40 | ) | (2,159 | ) |
Less Capitalized Interest |
| (1,819 | ) | (5,411 | ) |
Less Minority Interest from Subsidiaries without fixed charges |
| (3,729 | ) | (4,489 | ) |
|
|
|
|
|
|
Total |
| 385,336 |
| 424,925 |
|
|
| — |
| — |
|
Ratio of Earnings to Fixed Charges |
| 1.22 |
| 1.13 |
|
|
|
|
|
|
|
Pro forma RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS |
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges: |
|
|
|
|
|
Interest Expense and Debt Amortization |
| 309,834 |
| 366,407 |
|
Preferred Stock Dividend |
| 15,848 |
| 21,130 |
|
Rental Expense |
| 4,028 |
| 3,528 |
|
Capitalized Interest |
| 1,819 |
| 5,411 |
|
|
|
|
|
|
|
Fixed Charges |
| 331,529 |
| 396,476 |
|
|
| — |
| — |
|
Earnings (see above) |
| 385,336 |
| 424,925 |
|
|
|
|
|
|
|
Ratio of Earnings to Fixed Charges |
| 1.16 |
| 1.07 |
|